The bullish rally | 15 Februari 2021

15 Februari 2021, GBP/USD

The bullish rally

GBPUSD trading plan:

The rally in the pound comes just as the latest figures show the U.K. has rolled out more than 14 million Covid-19 vaccines across the nation and remains on track to meet the government’s 15 million target by mid-Feb. The speedy roll out of vaccines coupled with a fall in infections have prompted investor bets the economy will likely rebound stronger than expected when it eventually reopens. Official figures showed gross domestic product grew 1.0% from October through December, the top of a range of economists' forecasts. This makes it likely that Britain will escape two straight quarters of contraction - the standard definition of recession in Europe - even though the economy is set to shrink in early 2021 due to the effects of a third COVID lockdown.

Investment idea: Buy 1.3890 and take profit 1.3931.

David Johnson
Analyst of «FreshForex» company
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